Brokerages Anticipate Knight Transportation, Inc. (NYSE:KNX) Will Announce Quarterly Sales of $290.44 Million

Wall Street analysts predict that Knight Transportation, Inc. (NYSE:KNX) will announce sales of $290.44 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Knight Transportation’s earnings. The lowest sales estimate is $277.30 million and the highest is $301.12 million. Knight Transportation reported sales of $280.53 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Knight Transportation will report full year sales of $290.44 million for the current financial year, with estimates ranging from $1.11 billion to $1.17 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.23 billion per share, with estimates ranging from $1.12 billion to $1.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Knight Transportation.

Knight Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $273.20 million during the quarter, compared to the consensus estimate of $283.88 million. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share.

KNX has been the subject of several recent research reports. Credit Suisse Group reiterated an “outperform” rating and set a $35.00 target price (up from $32.00) on shares of Knight Transportation in a report on Friday, April 14th. Zacks Investment Research upgraded shares of Knight Transportation from a “sell” rating to a “hold” rating and set a $41.00 target price for the company in a report on Wednesday, July 5th. Robert W. Baird upgraded shares of Knight Transportation from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $35.00 to $36.00 in a report on Monday, April 17th. BidaskClub upgraded shares of Knight Transportation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Finally, Vertical Research initiated coverage on shares of Knight Transportation in a report on Thursday, April 13th. They set a “buy” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $38.13.

Shares of Knight Transportation (KNX) traded up 0.56% during mid-day trading on Friday, hitting $35.65. The stock had a trading volume of 1,569,276 shares. Knight Transportation has a 52-week low of $26.85 and a 52-week high of $38.80. The stock’s 50-day moving average price is $36.19 and its 200-day moving average price is $33.75. The firm has a market cap of $2.87 billion, a PE ratio of 36.75 and a beta of 0.87.

In other news, COO Kevin Quast sold 3,469 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $31.71, for a total transaction of $110,001.99. Following the completion of the sale, the chief operating officer now owns 63,497 shares of the company’s stock, valued at approximately $2,013,489.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James E. Jr. Updike sold 2,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total transaction of $100,100.00. Following the sale, the vice president now directly owns 16,096 shares of the company’s stock, valued at approximately $575,432. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,269 shares of company stock valued at $1,022,977. Insiders own 9.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of Knight Transportation by 0.3% in the second quarter. US Bancorp DE now owns 29,263 shares of the transportation company’s stock worth $1,084,000 after buying an additional 92 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Knight Transportation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the transportation company’s stock worth $476,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Knight Transportation by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 31,370 shares of the transportation company’s stock worth $1,109,000 after buying an additional 150 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Knight Transportation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 7,360 shares of the transportation company’s stock worth $230,000 after buying an additional 170 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in shares of Knight Transportation by 0.3% in the first quarter. Flinton Capital Management LLC now owns 128,080 shares of the transportation company’s stock worth $4,015,000 after buying an additional 368 shares during the last quarter. 87.94% of the stock is owned by hedge funds and other institutional investors.

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Knight Transportation Company Profile

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.

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Earnings History and Estimates for Knight Transportation (NYSE:KNX)

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